Insurance Operators Urged to Enhance Risk Management

Idu Okeahialam, the Chief Executive Officer of Royal Exchange PLC, delivered a keynote address at the Supernew Nigeria Local Content Conference 2026, which celebrated its 10th anniversary in Lagos. Okeahialam emphasized the importance of insurance operators in helping businesses anticipate risks and prevent disruptions.

She advocated for the development of a collaborative ecosystem involving oil and gas operators, insurance regulators, technology firms, and investors to share data and utilize predictive analytics. This integration aims to enhance risk management systems, improve underwriting, minimize losses, and increase operational efficiency.

Okeahialam called for stronger strategic partnerships to anchor local content development and accelerate digital transformation, which she believes is crucial for economic growth and resilience in Nigeria. She noted that the insurance sector plays a vital role in providing the confidence necessary for long-term business sustainability, especially in the complex oil and gas industry.